USDJPY Forecast
The USDJPY had another indecisive movement yesterday but slipped below 122.70 and hit 122.48 earlier today. The bias is bearish in nearest term. My stop loss is below 122.35 (H1 EMA 200). A clear break and daily close below 122.35 could trigger further bearish pressure testing 121.50 – 121.00 area. Immediate resistance is seen around 123.00. A clear break above that area could lead price to neutral zone in nearest term but would give the bullish scenario another chance targeting 124.00/50 area. My major technical outlook is neutral.
